In November 2020, Sebi passed an order restraining Prannoy Roy and Radhika Roy from accessing the securities market. The news broadcaster was acquired by the Adani group in late December
Last year in December, Adani Group had gained full control of news broadcaster NDTV after it acquired most of the stake of the founders -- Prannoy Roy and Radhika Roy -- at a premium of almost 17 per cent over the rate it had paid to minority shareholders of the firm.
Adani group now holds 64.71 per cent of New Delhi Television Ltd (NDTV), according to a regulatory filing.
The promoter entity, RRPR Holding, has also approved the appointment of Sudipta Bhattacharya, the chief technology officer of Adani group, and Senthil Sinniah Chengalvarayan, an official of Vishvapradhan Commercial Pvt Ltd, as directors on its board.
Last week, VCPL had responded to the stock exchange filing by RRPR and said that it is not a party to the SEBI order dated November 27, 2020 and that it is obligated to comply with contractual obligations.
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions.
In response to the incident, NDTV issued a statement calling it "complete subversion of basic rights".
As per the last shareholding pattern available, Prannoy Roy held 15.94 percent in NDTV while Radhika Roy held 16.33 percent.
CBI sources told Moneycontrol that the agency has registered a case against Roy, his wife Radhika Roy, and a private company for allegedly causing a Rs 48 crore loss to a bank.
The Information and Broadcasting Ministry has decided to "put on hold" the order to impose a one day ban on the Hindi channel NDTV India, after the broadcaster requested that the decision be reviewed.
Smartcooky's other investors include Rajan Anandan (Vice President and MD of Google South East Asia and India) and Pramod Bhasin(Former President and CEO of Genpact), among others.